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What is an accrual?

What is an accrual? Here are some definitions.

Noun
  1. An increase; something that accumulates, especially an amount of money that periodically accumulates for a specific purpose
  2. (accounting) a charge incurred in one accounting period that has not been paid by the end of it.
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Examples
Missing July 1, 2002, accrual rows were created and existing accruals for the same date that were incorrect have been corrected.
The taxpayer may instead choose to report this income in accordance with the accrual method.
To avoid this accrual, the taxpayer can pay the disputed tax and file a refund claim, preventing interest from accruing if the taxpayer loses.
But it turned out that that was a 15-month year, because we realigned the accrual accounting.
The thoughtful accrual of knowledge isn't possible when events unexpectedly jump the tracks.
If you conclude an antenuptial contract prior to your marriage, the accrual system will apply unless expressly excluded in the contract.

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